Currency
Mesirow Currency has delivered innovative, customized currency solutions to institutional clients globally since 19901 and is fully aligned with client interests. As a private, employeeāowned firm, we avoid many conflicts commonly associated with bankāaffiliated or publicly-traded firms.
By the numbers
in currency assets under management*
trading capabilities and global operational coverage
years providing custom FX solutions
āHedging currency risk can offer the investor tangible benefits and a form of natural portfolio insurance.ā
Custom currency solutions
Currency risk management: Active and passive hedging
Customized solutions designed to reduce or eliminate currency risk within a portfolio, hedge long-term currency movements, or potentially add value in gains and limit losses. Tailored strategies designed to meet beneficiary, operational, portfolio management and cashflow requirements.
Currency for return
Largely systematic strategies aiming to profit from short and medium term moves in the currency market. Our currency for return strategies have low or negative correlation to equities, bonds, and other alternative investments.
Outsourced trading solutions
Independent, efficient low-cost 24-hour agency trading that can result in significant savings for investors. Our Fiduciary FX solution minimizes transaction costs and market risk and provides competitive low-cost trading with transparent fees and results.
Global presence
Mesirow Currencyās dedicated team provides global in-market expertise and 24-hour trading coverage to its clients
Chicago
Professionals in Mesirow Currency Portfolio Management, Trading, Research, Operations and Technology operate from our corporate headquarters in Chicago.
London
Our London office is home to professionals from our Currency Trading, Research, Operations and Technology teams, working alongside Mesirow Capital Formation & Currency Solutions.
Tokyo
Mesirow Capital Formation & Currency Solutions has on-the-ground presence in the firmās Tokyo office.
Seattle
Mesirowās Seattle office is home to professionals from Currencyās Portfolio Management, Trading, Research and Operations teams.
Geneva
Mesirow Switzerland is the natural continuation of a partnership with Swiss-based Perreard Partners Investment SA (PPI), with whom Mesirow has collaborated closely since 2004.
Melbourne
Our strategic partner in Australia, Warakirri Asset Management, provides our Australian clients with transparent, accessible in-market expertise and locally -based service.
Explore our viewpoints
Local Extrema Predictor (LEAP)
A machine learning-based market regime detection and mean reversion strategy
Four strategies to reduce liquidity management stress
Identifying the appropriate liquidity management approach for a currency overlay is a key risk consideration.
The US hedging advantage
Potential to increase return while reducing risk by hedging currencies
Monetary futures: Stablecoins leap ahead of CBDCs
China, India and the EU press on with CBDCs, but the US bets big on private crypto innovation.
Don't let FX erode your gains
Embedded currency exposure in a portfolio can detract from risk-adjusted returns. Investors should assess how currency exposure impacts their portfolios and consider strategies to manage this risk as a means of enhancing overall portfolio outcomes.
Meet the team driving your success
CFA
CFA
Global principles
Principles for Responsible Investment (PRI) Signatory
Integrating environmental, social and governance (ESG) factors into our investment decisions and ownership practicesāreflecting our commitment to responsible investing and long-term value for our clients
Global FX code of conduct
Ensuring transparency, fairness, and integrity in every foreign exchange transactionāreinforcing our promise to put clients first and uphold the highest standards in the market
Foreign Exchange Professionals Association (FXPA)
Supporting efforts to promote transparency, efficiency and fairness in the global FX marketādemonstrating our commitment to serving clients with integrity and insight
Customized currency overlay strategies
An independent currency specialist, Mesirow Currency delivered innovative solutions to institutional clients globally since 1990.1 As a private, employee-owned firm, Mesirow is free from many conflicts of interest and is fully aligned with the interests of its clients.
Passive risk management
Reduce or eliminate risk while ensuring best execution and effective cash flow management
Target return:* Passively remove currency risk
Risk:** Minimize tracking error
Time horizon: Static, long-term hedge
Passive plus risk management
Efficiently hedge long-term currency movements; insulate the portfolio from fluctuation
Target return:* 25ā40 basis points p.a.
Risk:** 50ā80 basis points tracking error
Time horizon:Ā Long-term solution
Active risk management
Manage existing currency risk to potentially add value in gains and limit losses
Target return:* 100ā150 basis points p.a.
Risk:** Tracking error of 2ā4%
Time horizon: 3- to 5-year investment horizon
Capital Formation & Currency Solutions
With deep product knowledge and a solutions-oriented approach, the team connects investors to differentiated opportunities across private credit and other alternative asset classes.
Spark
A quarterly email that brings together insights from across the entire Mesirow organization, with perspectives on markets, sectors and investing in what matters.